Dallas Back Taxes and Late Filing

Catching Up in Dallas

Dallas businesses often fall behind in a way that is easy to miss: a company moves, registers in Texas and forgets the state it left, or forms a new entity for a project and never files its first franchise tax report. Individuals fall behind after a divorce, a business failure or a move. BOMCAS helps Dallas clients find what is missing, rebuild records, file and arrange payment, working remotely.

Texas penalties and voluntary disclosure are explained in Texas back taxes and late filing. Below are the Dallas situations we see most.

Franchise Tax After a Move

A company that registers to do business in Texas owes its first franchise tax report in the year after it becomes subject to the tax, and many relocating companies miss it because their advisers were in the other state. Missing reports lead to penalties and eventually to forfeiture of the right to do business, which can surface during a financing or a sale. We file the missing reports and request reinstatement where needed.

Notices From the State You Left

California, New York and other states regularly review taxpayers who say they moved away. A residency audit asks for detailed records of where you lived, worked and spent your time. Notices about withholding accounts that were never closed, or about franchise taxes on entities still registered there, also arrive. We gather the records and work with the other state's specialists to respond.

Unfiled Partnership and S Corporation Returns

A partnership or S corporation that files late owes a federal penalty for each month and each partner or shareholder, which grows quickly for a firm with many owners. First-time abatement or reasonable cause relief may be available. We prepare the missing returns and K-1s and request relief.

Sales Tax Audits of Wholesalers

Showrooms and distributors are often audited for exempt sales without resale certificates. The Comptroller may allow a period after the audit begins to collect missing certificates, so the faster you respond the better. We reconstruct customer files, request certificates from buyers and review the auditor's sample.

IRS Balances

Executives sometimes owe large balances after equity vests with too little withholding, or after selling shares without making estimated payments. Penalties can be reduced by paying quickly, and the IRS offers instalment agreements for balances that cannot be paid at once. For unfiled years, we request transcripts and prepare the returns with all deductions.

Property Tax

Property tax that remains unpaid after January 31 is delinquent, with penalties and interest, and Dallas-area taxing units add collection fees later in the year. Commercial owners who take the dispute to court must still pay at least the undisputed amount before the delinquency date to keep the appeal alive. We help plan the payments alongside other catch-up work.

Entities Formed for Projects

Developers and investors in Dallas often form a new LLC for each acquisition or project, and some of those entities are never used, or are used once and forgotten. Each one registered with the Secretary of State keeps owing franchise tax and information reports until it is terminated, which requires a certificate from the Comptroller. A periodic review of every entity in the group catches these before they lead to penalties or forfeiture, and before a lender or buyer finds them in due diligence. We list each entity, its filings and its status, and close the ones that are no longer needed.

Our Process

Pull federal transcripts and Texas account status.
Check filings in any state you left.
Rebuild records and file the most urgent returns first.
Request penalty relief and reinstatement.
Set up payment arrangements and a calendar.